Vest Financial LLC Takes Position in Ingredion Incorporated (NYSE:INGR)

Vest Financial LLC purchased a new position in shares of Ingredion Incorporated (NYSE:INGR) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 18,497 shares of the company’s stock, valued at approximately $2,501,000.

Other hedge funds have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. bought a new stake in Ingredion in the 4th quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Ingredion in the fourth quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ingredion by 653.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company’s stock valued at $31,000 after buying an additional 196 shares during the period. Ameriflex Group Inc. acquired a new stake in Ingredion during the fourth quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Ingredion by 32.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $44,000 after purchasing an additional 79 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ingredion

In other news, SVP Larry Fernandes sold 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the completion of the transaction, the senior vice president now owns 31,996 shares of the company’s stock, valued at $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.

Ingredion Price Performance

Shares of INGR stock opened at $137.98 on Friday. The business has a fifty day simple moving average of $133.84 and a 200 day simple moving average of $135.10. The company has a market cap of $8.87 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.03 and a beta of 0.73. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.53. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.32%. The ex-dividend date is Tuesday, July 1st. Ingredion’s payout ratio is 33.76%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Oppenheimer dropped their target price on shares of Ingredion from $167.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group set a $155.00 price target on shares of Ingredion in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.20.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.